Axis Bank Limited SWIFT/BIC code

SWIFT/BIC code of Axis Bank Limited

The short code AXISSGSG and the 11-character code AXISSGSGXXX identify one and the same institution: Axis Bank Limited, with its head office in Singapore. The code has a single purpose: it makes sure that a cross-border transfer ends up at the right bank. In practice you usually come across it on invoices from abroad, in payment forms and on the account details that Axis Bank Limited provides.

Further down we go through the practical side: money coming in from abroad, paying someone in another country and how to verify a SWIFT code before you hit send. The SWIFT code alone does not identify a personal account; for that you need the IBAN or account number is for.

Sending money abroad from Axis Bank Limited

An international bank payment can cost more than the fee suggests. On top of the transfer fee, banks in between may deduct a fee, and when currencies are converted the bank often uses a rate that is less favourable than the real market rate.

Most of the cost usually sits in the exchange rate: the bank converts at a rate that includes a margin. Check the rate you are offered against the mid-market rate.

For many routes, a specialist provider is less expensive than a bank. GoldexPay compares the amount that arrives across providers, so you can pick the cheapest route. Using a transfer service does not require closing your account at Axis Bank Limited: you simply pay the service from your account.

Tracking a transfer to or from Axis Bank Limited

How quickly a payment reaches Axis Bank Limited is determined by several factors: the currency, the number of banks in between, daily processing deadlines and time zones. Payments made late in the day or just before weekends and holidays often go out the next business day. Extra checks by one of the banks may also add a delay, even when all details are correct.

If the money is late, contact the sending bank about the tracking status so they can trace it along the chain. Specialist transfer services usually show tracking in their app showing where the money has got.

The bank that sent the money can start an official trace or a recall – the recipient’s bank often cannot see a payment that has not arrived. As a recipient, it helps to check your account for a slightly lower amount.

How up to date is this code?

Our SWIFT/BIC directory draws on public sources and we update it periodically. It can happen that a code here is out of date. The number of codes we show are based on what is in our directory.

Before any payment that matters, check the BIC with Axis Bank Limited or with the recipient. GoldexPay has no connection to Axis Bank Limited, we only compare transfer services. Should you notice something that is out of date, we appreciate a message.

Before you send: check the Axis Bank Limited code

Have the recipient send you the bank details straight from their online banking. When the code you were given does not match AXISSGSG or AXISSGSGXXX, stop and ask: check with the recipient or with Axis Bank Limited directly.

A wrong SWIFT code may lead to delays, a payment being sent back or additional charges along the way. Do not forget the account number: an error there is harder to undo than a wrong BIC.

A format check in your banking app only tells you that the IBAN exists. If your bank offers it, a name check on the recipient gives extra certainty. A small test payment can be worth it for large sums, even if it costs an extra fee.

Receiving money from abroad at Axis Bank Limited

A sender in another country needs several details from you, and missing ones are a common cause of delays. Give them the account holder’s name, your account number or IBAN, SWIFT code AXISSGSGXXX and your address.

It helps to include Axis Bank Limited and its city too, because some payment forms have separate fields for them. Double-check every detail before you send them, because the sender’s bank usually copies them as is.

Expect that the amount credited is below what the sender paid. Charges on incoming payments vary from bank to bank. Agree with the sender who covers the fees before the money is sent.

Choosing between the 2 SWIFT codes of Axis Bank Limited

With 2 codes in 1 locations, Axis Bank Limited belongs to the banks that use individual codes for branches. The head office code remains AXISSGSGXXX.

If nobody asks you for a branch code, go with AXISSGSGXXX. A branch code only makes sense when the recipient’s bank specifically asks for it, which is more common for business accounts and trade services.

When in doubt, check with the recipient which code their bank gave them. Branch codes are sometimes changed or retired when banks reorganise, so a code from an old document is not always valid.

Scams that use SWIFT codes

Scammers regularly send payment requests with changed bank details, sometimes in an email that looks completely genuine. That AXISSGSG is a real code is no guarantee that the account is legitimate.

Never rely on a phone number in the same message that contains the new account. Be suspicious of urgent requests, unusual wording or a sender address that is slightly off. If a payment was sent to a fraudster, contact your bank immediately.

Fraud can also work the other way: someone sends more than agreed and wants you to return the difference. A payment confirmation from the sender proves nothing; only your own account shows what has arrived.

Why Axis Bank Limited has an 8- and an 11-character code

Every SWIFT/BIC code starts with the same eight core characters: four letters for the bank, a two-letter country code and a two-character location code. That gives you AXISSGSG.

XXX at the end of AXISSGSGXXX is not a placeholder or an error: it stands for the head office of Axis Bank Limited. Some banking apps insist on 11 characters, in which case you can add XXX behind AXISSGSG.

As a rule the code is typed in capitals, without spaces or dashes. A single character may route a payment to another bank, so check it twice.

The Singapore Dollar and what conversion costs you

Most accounts at Axis Bank Limited are typically held in SGD, the local currency. If you send money in a different currency it gets converted at some point – by your bank, by Axis Bank Limited or by a bank in between. Every conversion costs the amount.

Who does the conversion has an effect on how much arrives, since every bank sets its own rate. Check how much SGD arrives with different services; the difference between options can be larger than you expect.

The SGD rate fluctuates throughout the day and quotes are often valid only for a short time. On larger amounts, even small gap in the rate can be worth more than the fee.